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That is in substance a full guarantee, but not one the government recognizes.
"It's not a full guarantee," Mr. Fowler said, "but I guess it's insurance".
They were clearly worried about what would happen without a full guarantee being set aside by Lloyd's.
But the American insurers in the meeting today said the absence of a full guarantee fund left open the possibility that some claims might not be paid.
Lawmakers have suggested an exception to a law ending the government's guarantee on savings and other accounts that would allow the full guarantee to remain for no-interest settlement accounts that businesses use to pay their bills.
At the time of the announcement, Lord Porter, the chairman of the Local Government Association, said the Treasury commitment "falls well short of the full guarantee we are urging the government to make".
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It's unclear whether Wallace would sign a full guaranteed contract or a partially guaranteed deal.
Alpha Oumar Konaré, chairman of the African Union, said the groups would have "full guarantees" that their views would be heard.
Guusje Ter Horst, the Dutch Minister of the Interior, said it was "likely" that the machines would have done so, but that it was "impossible to give full guarantees".
In these situations, approximate techniques like stochastic global optimization can at least locate a near globally optimal solution in a reasonable time, although the cost to pay is that these methods do not offer full guarantees of global optimality.
It also, of course, has a full government guarantee behind it.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com